While neighboring China continues to enforce a mainland ban on crypto transactions as part of a broader crackdown that started in September 2021, Hong Kong has rolled out the welcome mat for crypto firms this year — even going so farIn October, Hong Kong authorities released a series of policy statements about cryptocurrencies with the goal of strengthening its position as a global financial center.
Under the new rules, crypto trading platforms must obtain a license to serve retail investors in the city.growing concerns over Hong Kong lagging behind its East Asian and Gulf peers in terms of web3 development. © 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.